In the 9th session of Chandoo.org podcast, lets raise above AVERAGEs.
What is in this session?At this exact time, one in every 3 analysts in the world are calculating an AVERAGE(). – Someone
AVERAGEs are a very popular and universal way to summarize data. But do you know they are mean? Mean as in, AVERAGEs do not reveal much about your data or business. In episode 9 of Chandoo.org podcast, we tackle this problem and present solutions.
In this podcast, you will learn,
NOTE: This is a 2 part podcast. 2nd part will be published next week.
Go ahead and listen to the show Links & Resources mentioned in this session:Average Formula – Syntax, examples
Explanation of Standard Deviation
Making a box plot
Statistics & Probability for analyst – a guide
Transcript of this session:Download this podcast transcript [PDF].
Do you use AVERAGEs for your analysis? What do you think about them?AVERAGE is such an easy and convenient thing that we use it often. For many of my reports I start with AVERAGE and then improve the metrics to show insights.
What about you? Do you calculate AVERAGE() for your reports? What other types of statistics you use to summarize data? Where do you find AVERAGE to be useful (or useless)? Please share your thoughts using comments.
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The post CP009: Averages are Mean – Know these things before you make any more AVERAGE()s appeared first on Chandoo.org - Learn Excel, Power BI & Charting Online.